coffee is extremely bearish since September.
we saw a sharp and strong decline during the last two month.
however, just recently the price has reached a major daily support level.
chances are high that we will see at least a pullback from that.
I am waiting for a 4H candle close above 107.1 level.
it is a horizontal neckline of an inverted h&s pattern.
after the breakout I will buy the market on retest.
goals:
110.65
113.0
(if neckline is respected and price drops below the head, setup will be invalid)
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✅My Telegram Channel: t.me/VasilyTrading
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⭐ Get 100% Deposit Bonus: bit.ly/bestforexgoldbroker
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✅ Facebook: facebook.com/VasilyTrading/
⭐ Get 100% Deposit Bonus: bit.ly/bestforexgoldbroker
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.